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Question 15 4 pts At December 31, 2019, Ceiling Company did not own any debt or equity investments. On January 1, 2020, Window purchased $1,900,000
Question 15 4 pts At December 31, 2019, Ceiling Company did not own any debt or equity investments. On January 1, 2020, Window purchased $1,900,000 of 8%, 3-year bonds for $2.002.926, an effective rate of 6%. Interest is payable on June 30th and December 31st, and the effective interest method is used. The investment is classified as trading. At December 31, 2020, the carrying value of the investment account is $1,970,625 and the fair value is $2,015,000. What amount should be reported as an asset for the bonds on its December 31, 2020, balance sheet? $1,970,625 $1,900,000 $2,015,000 $0 because the account is not an asset
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